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Digital Brands in the Experience Age
Seen This 4 explores how digital brands are using physical spaces to connect with audiences and build advocacy. It’s no secret that ‘experiences’ are fast-becoming an essential weapon for brands in the fight for consumer engagement, with this discipline being the fastest growing line in a brand's marketing budget.
Twenty-five years after the arrival of the World Wide Web, the ‘Information Age' is now drawing to a close, unseated by a new stage in tech that puts human experience first. Welcome to the ‘Age of Experience’.
In the Experience Age, consumerism no longer equates to materialism. Consumers no longer chase that straight-forward endorphin hit that once came from getting your hands on a coveted item, as shopping becomes something you can do anywhere and anytime. Consumers instead are longing to acquire memorable and distinctive experiences that enhance their lives, as well as their social capital. And, in response, brands are creating complex, multisensory and emotional journeys that deepen their connections with consumers.
For the last six successive quarters, and for the first time in ten years, consumer spending on experiences has outpaced retail spending growth. People are spending less on products and more on experiences. (Outlook for Retail 2016 / Retail Economics)
Is this a reaction to post-recession blues, with consumers now living life through experiences, or, is it a fundamental change in how we value product purchase over an experience? And, it’s not just a millennial driven trend. Less typically millennial focused purchases such as holidays and eating out are driving this trend.
So, if experiences are becoming ever more important for consumers, they’re now even more important for how a brand interacts with its audience. But does this present a problem for digital service brands who may not sell a physical product or have a shopfront? Not in the least. Digital service brands that want to bring their brands to life and refine their customer experiences should look to 2017’s breakout technologies: VR, AI and location services. The first rule to remember is there are no rules.
AUTHORS - Seen Presents
Amy Thomson, Founder & Managing Director
Darren Smith, Innovation & Growth Director
Jennifer Anderson, Group Account Director
Frankie Speakman, Client Services Director
Key take outs:
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